HYCM is an online broker that provides trading on multiple currency pairs and CFDs. Additionally, it has access to various indices and stocks.
Depositing and withdrawing funds from an account is a breeze. Customers can fund their accounts through various methods like e-wallets, credit cards, and bank wire transfers with ease.
HYCM is one of the oldest and most reputable online trading brokers around, boasting a highly regulated platform for CFDs, Forex trading, and other derivative instruments.
The Henyep Group, a Hong Kong-based financial holding company with over 35 years of experience in multiple global financial markets, owns and operates the company.
As with any type of online financial trading, it is essential to find the right broker for your requirements. After researching extensively, we determined that HYCM offers the best user experience, has low fees and is highly regulated. Its features and innovations include an advanced trading platform and mobile app which are among the most sophisticated on the market; additionally, HYCM was among the first websites offering both mobile-friendly and responsive web platforms – allowing users to trade anytime they please from anywhere!
HYCM broker provides an expansive selection of forex and CFD trading products, in addition to providing their clients with a host of tools and services.
They provide various account types tailored to the needs of traders, making it simple for them to deposit and withdraw funds. Furthermore, they are regulated by both UK’s Financial Conduct Authority and CySEC – meaning there are strict regulations in place that protect clients’ interests.
Traders can fund their accounts with credit/debit cards, bank transfers or Skrill or Neteller. These payment methods have no fees associated and can be processed within one business day.
Deposit and withdrawal
HYCM accepts deposits and withdrawals through a variety of methods, such as wire transfers, credit or debit cards, and e-wallets. Depending on the chosen option, wait times for withdrawals may vary; however, typically HYCM processes them within one business day.
HYCM client portal allows traders to open an account in just a few steps. They must register for an account and answer some questions regarding their preferred trading platform, type of account, and currency used in the account.
Once traders have completed these steps, HYCM will give them login credentials so they can access the client portal to begin trading. Demo accounts are also available so traders can practice before investing funds into their live trading account.
HYCM is an online broker providing trading opportunities on forex, commodities, indices, stocks and crypto CFDs. Its MetaTrader 5 platform gives traders access to a suite of tools for analysing the market and making informed trade decisions.
HYCM not only offers trading tools, but they also host seminars and webinars for clients to educate them about forex trading and other financial markets. These sessions offer an abundance of knowledge regarding different trading strategies, price trend analysis, technical and fundamental analysis.
The broker provides traders with a selection of account types to choose from. They can deposit and withdraw funds using major credit cards, e-wallets, or wire transfers.
HYCM is fully regulated by the UK’s FCA and CySec, meaning it has robust accounting and risk management systems in place. Furthermore, all client funds are fully segregated and do not contribute to any of the brokerage’s profits or losses.
Pros and cons
HYCM is a well-established forex broker with an impressive track record and reliable operations. They provide various account types, an easy platform and top-notch customer service to their clients.
Traders can deposit and withdraw funds using multiple methods, including major credit cards, Skrill (Moneybookers) and WebMoney. Withdrawal fees for most money transfer methods start as low as $20.
HYCM is regulated by the UK Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Dubai Financial Services Authority (DFSA) and Cayman Islands Monetary Authority (CIMA). With an extensive range of trading tools, prompt customer support and various account options, it has become a reliable partner for traders worldwide.
Account opening and login
HYCM is a leading forex and CFD broker regulated by multiple financial authorities worldwide. They offer various account types, competitive trading fees, as well as world-class education and research resources.
Starting with HYCM is a breeze. After answering a few questions about their country of residence, how they plan to fund their account and contact preferences, traders will have their HYCM account verified within one business day.
Once verified, clients can deposit funds into their account by clicking the “Banking and Deposit Funds” button on the main client portal of their preferred account type. They then select their preferred method, fill in all required information and click “Submit.”
HYCM allows clients to withdraw funds from their account through wire transfers or direct bank deposits. A fee of 30 USD applies for withdrawals under 300 USD; over 5,000 USD there is a 1% processing fee applied.
HYCM provides a wealth of educational resources, such as forex education videos, ebooks and courses. These can assist both new traders learning about trading and MetaTrader, as well as give experienced traders an in-depth appreciation of the platform and its features.
Though these tools can be an excellent way to educate clients, HYCM must also bear the cost of them – which has an impact on its margins and fees.
HYCM is a well-regulated broker with low fees for trading forex and CFDs, as well as access to quality educational tools. Furthermore, the broker boasts an advanced deposit/withdrawal system with bank wires, credit/debit cards, WebMoney, Neteller, and Skrill supported.
HYCM provides customer support in multiple languages on its platform, which is accessible 24 hours a day. Traders can reach the HYCM team via email, phone, fax or live chat for assistance.
Furthermore, the broker is regulated by several authorities including the UK Financial Conduct Authority (FCA), giving clients protection in case their brokerage firm becomes insolvent.
Therefore, HYCM has earned itself the reputation as one of the world’s most reliable brokers due to its long operating history and backing by an incredibly strong corporate owner.
HYCM offers a broad selection of trading instruments, competitive spreads and an attractive deposit bonus scheme. Furthermore, its account opening process is quick and effortless – customers can deposit funds using bank transfer, Visa or MasterCard credit cards, e-wallets such as Neteller, Skrill or WebMoney or an electronic wallet like Neteller, Skrill or Nectar.
Demo accounts are invaluable tools for novice traders to practice their trading techniques and test out new strategies without risking real money. HYCM broker provides this service only to registered clients, and is regulated by trusted jurisdictions such as the UK Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), and Dubai Financial Services Authority (DFSA).
To open an account, traders are required to provide their name, email address, country of origin and phone number. This information serves to confirm their identity and abide by Anti Money Laundering/KYC requirements.
Traders can deposit and withdraw funds using wire transfer, credit/debit cards, and e-wallets. Furthermore, the company offers 24-hour customer support via live chat, email, and phone.